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by the new york times says that because tax rates are lower now than under president reagan, the u.s. can afford to raise taxes and our next guest says not so fast. are they missing the overall point? joining us is james freeman with the editorial board. nice to see you. >> good to be here. >> do you take the new york times at its word here on the research about the tax burden, during the reagan years, we have some graphics to show us some different family incomes here on the upper echelon. homes making $350,000 a year and now they're paying about 42% of income compared with 49% back in 1980? so they're saving money and that goes on all of the tax brackets, middle class and lower class, do you agree with that or do you think the new york times is missing the overall point here. >> as far as the numbers analysis, there's a lot of examination of that over the next few days, for the moment let's accept that everything they've said is true. the real point is the context here because what ronald reagan did was start a worldwide movement toward lower tax rates and growth followed. a lot of peop
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